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Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P market, as it was in the past few week. After all, prices had started to firm up quite a bit. According to the latest report from Lion Shipbrokers, "buying interest is decreasing as ships' values have firmed beyond the budget of many prospective buyers out there. We recorded less second hand transactions this week (20 sales compared with 30 sales of last week)", said the shipbroker. In a similar weekly report, shipbroker Golden Destiny reached the same conclusion, noting that there were 43 transactions reported worldwide, both in the secondhand and demolition markets, down by 38% on the week, with 42% decrease in secondhand purchases and 29% lower scrapping volumes from the activity reported in the last week.
According to Golden Destiny, "at a similar week in 2013, the total S&P activity in the secondhand/demolition market was standing at 5% lower levels, when 41 transactions had been reported and secondhand ship purchasing was standing 47% higher than the levels of newbuilding orders. The ordering appetite was minor for the main conventional vessel segments. (15 total new orders, 7 bulkers, 2 tankers, and 6 special projects)". In total, Golden Destiny reported 26 vessels changing hands for a total amount of $513,7 million, while two deals were done at an undisclosed price (10 bulkers, 10 tankers, 1 gas tanker, 1 liners and 4 containers). "Bulkers and tankers held the lion share of this week’s S&P activity -38% share each, containers 15% share, only 1 S&P deal reported in the gas tanker segment.. The highest invested capital is reported in the tanker segment for region $185 mil, due to intense S&P activity reported in the crude tanker segment", said the shipbroker.
Among the most notable deals, Lion Shipbrokers reported that in dry bulk carriers, "Hanjin’s panamax BARITO (73K BLT 1996 HUDONG/CHINA SS/DD DUE AUG 2016) has changed hands locally within South Korea, achieving a price of $7.2 mill. Price is similar to the recent deals of three years older units of HANSUNG SUNRISE (73K BLT 1993 HYUNDAI/S. KOREA) and VITAPRIDE (69K BLT 1993 IMABARI/JAPAN), illustrating the premium buyers are willing to pay extra for South Korean and especially Japanese built units. Four supramaxes changed hands this week; clients of Giavridis of Greece have acquired Japanese controlled TRITON STORK (56K BLT 2004 MITSUI/JAPAN CR 4X30T) for the market level of $21.15 mill. In an en bloc deal, clients of Thoresen of Thailand have purchased Cido’s supramax trio TOP HARMONY, TOP FREEDOM & TOP ISLAND (55K BLT 2005/05/06 OSHIMA/JAPAN CR 4X30T) for $68.9 mill ($22.6 mill, $22.6 mill & $23.7 mill respectively). Remind you that last week, similar unit SKY MARINER V (53K BLT 2005 IMABARI/JAPAN CR 4X30T) was committed for $22 mill. Modern handy WEST FORTUNE (28K BLT 2009 SHIMANAMI/JAPAN CR 4X30.T DD DUE APR 2014) commanded a firm $17.5 mill basis special and dry-docking surveys due next month", said the shipbroker.
Meanwhile, in the demolition market, Lion noted that "the Subcontinent market is stable at firm levels, with India monopolizing almost all of the reported tonnage for one more week. China remains stable at levels in the low-mid $300, same as Turkey, paying levels in the region of $300". Similarly, Golden Destiny mentioned that "India holds firm position in the demolition arena with container disposals in the panamax segment surging and yards fulfilling their capacity. The high influx of container tonnage for disposal may cause, in the short term, a downward pressure in scrap rates once the arrivals for beaching begin and yards being full of capacity. Bangladesh and China remain quiet, while in Pakistan, there is still short of activity for tanker disposals by winning this week one capesize bulker".
Demolition activity was down by 29% on the week, despite a large increase in bulker scrapping activity (up by 250% on the week). " In terms of deadweight sent for scrap, there has been 36% weekly increase with strong reported disposals for large vessel sizes, 3 capesize-2 panamax bulkers, 1 VLCC-1 panamax in the tanker segment, 2 panamax in the container. India is reportedly to have won 7 of the 17 demolition transactions, Bangladesh 0, Pakistan 1, China 2, Turkey 1 and 6 reported vessel disposals at undisclosed demo country.
Benchmark scrap prices in the Indian subcontinent region: $420-430/ldt for dry and $450/ldt for wet cargo. Scrap prices in China hover at $310/ldt for dry and $330/ldt for wet cargo.
Notable demolition transactions: Reported in the container segment, M/V “HANJIN IRENE”4,024 teu with 18,888 Ldt, built 1994 fetched $485/ldt in India asis Fujairah with sufficient bunkers for the voyage to India. At a similar week in 2013, demolition activity was up by 12%, in terms of the reported number of transactions, when 19 vessels had been reported for scrap of total deadweight 689,599 tons with 4 disposals for bulkers, 3 tankers, 8 liners, 2 containers, 1 passenger/cruise and 1 Ro-Ro. Ship-breakers in Indian subcontinent region had been offering lower levels of the current year, $385-400/ldt for dry and $420/ldt for wet cargo", the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
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